1.   Investors were cheered by news of the merger.

2.   Although the sale was expected and the price was what some analysts had predicted, the speed of the transaction cheered investors.

3.   Analysts said that would cheer investors in KLM, who might otherwise have been concerned that the plan could open the carrier to liabilities if Alitalia stumbles again.

4.   At first blush, the news might cheer average investors the way average golfers are heartened when they watch Tiger Woods flub a shot.

5.   Both companies released first-half reports that cheered investors.

6.   A deeper look at the economic data apparently cheered investors.

7.   But the good news did little to cheer investors.

8.   Critics said that tactic, combined with a string of defections by top portfolio managers, did little to cheer investors.

9.   Even good news from video game maker Sega Enterprises Ltd. failed to cheer investors.

10.   Economic growth in April and May after three consecutive months of contractions compared to the year-earlier months has also cheered investors.